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our taxes are just too low. we need higher taxes on wealthier people. >> we need jobs. >> there's not going to be a shortage of capital, there's plenty of capital, it's just awash in capital and that's not the problem. >> our problem is not-- is not that taxes are too low, they're not. because if they were lower we'd get more jobs and more revenue, that's exactly what we need, ben, let me tell you something, you raise taxes we're going back-- >> absolutely. i couldn't agree with that more. and the deficit gets with bigger and the deficit gets bigger. >> raise taxes and-- >> we've got, okay, adam. can you break this? what do you think? which side are you on here, a fiscal cliff, how do we address this, higher taxes, lower taxes? >> we won't have a sequester for more than a few days. i can see it happening, but it won't last very long. what we have to have higher taxes. >> no, come on. >> and we know that, we will. >> all right i tell you what-- >> you know what, we'll have double dip recession. >> we may be going
our taxes are just too low. we need higher taxes on wealthier people. >> we need jobs. >> there's not going to be a shortage of capital, there's plenty of capital, it's just awash in capital and that's not the problem. >> our problem is not-- is not that taxes are too low, they're not. because if they were lower we'd get more jobs and more revenue, that's exactly what we need, ben, let me tell you something, you raise taxes we're going back-- >> absolutely. i couldn't...
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Oct 1, 2012
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their taxes to offset the tax which brings their trucks in line with restaurants. >>> family guy creator seth mcfarland will host the oscars. he says he's honored and hopes the academy doesn't find out he was master of ceremonies for the roast of charlie sheen. the 2012 acme awards will air -- academy awards will air on february 24th. >> saw that roast with charlie sheen, very funny, a little raunchy but pretty funny. >> 72 was the high, light showers in the metro area, that's kind of the bad news. the good news is we have light showers, nothing heavy for the metro area. october 1st is what, anita? >> it's the start of breast cancer awareness, also domestic violence. there's a lot of awareness months right now. >> let me show you the live shot outside, our live weather cam brought to you by michael and son. >> beautiful, the white house in pink. >> 66 right now, light showers, dew point 53. the temps going down, dew point coming up to meet it, winds out of the west, northwest now at 5 miles an hour. satellite picture radar combined, this is going to be the main focus of the heavy activit
their taxes to offset the tax which brings their trucks in line with restaurants. >>> family guy creator seth mcfarland will host the oscars. he says he's honored and hopes the academy doesn't find out he was master of ceremonies for the roast of charlie sheen. the 2012 acme awards will air -- academy awards will air on february 24th. >> saw that roast with charlie sheen, very funny, a little raunchy but pretty funny. >> 72 was the high, light showers in the metro area,...
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payroll tax, real estate tax, gas tax, on and on and on. the president raises the rates to 5%, most businesses work on 5% or 8%. how much more can they sustain? that reduces jobs, kills us. neil: that's your point; right, dave? >> exactly. you know, there's no 5% there. our goal is 2 #.5%, neil. our goal -- >> if we're lucky. neil: goal is 2.5% -- >> in a good economy. 2.5% net in a good economy in the business we do today. add 5% there -- >> you're done. >> 2.5% in the red, that's right. neil: if you hear mitt romney saying i'm going to essentially get off your back, going to roll back regulations. he was not specific which, make sure the government cools it on taxes, didn't say to the degree of what allowances and writeoffs and deductions he limits, were you either troubled by the fact it might be a wash? that you, for example, in your case for your catering business, you might see, butch, no tax savings at all, but you might have a lower rate, but can't deduct as much. >> that will kill us. without disposable income for me to spend or gr
payroll tax, real estate tax, gas tax, on and on and on. the president raises the rates to 5%, most businesses work on 5% or 8%. how much more can they sustain? that reduces jobs, kills us. neil: that's your point; right, dave? >> exactly. you know, there's no 5% there. our goal is 2 #.5%, neil. our goal -- >> if we're lucky. neil: goal is 2.5% -- >> in a good economy. 2.5% net in a good economy in the business we do today. add 5% there -- >> you're done. >> 2.5%...
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Oct 4, 2012
10/12
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he said he calculates how much they pay in taxes. state income tax, state sales tax, gasoline tax. it added up to well over 50% of what they earn. your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. so what i do is i bring down the tax rates, lower the deductions and exemptions. the same idea behind simpson, by the way. lower the deductions and exemptions to create more jobs, because there is nothing better for getting us to a balanced budget than having more people working, earning more money, paying more taxes. that's by far the most effective way to get this budget balanced. >> you may want to move on to another topic, but i would say this to the american people. if you believe that we can cut taxes by $5 trillion and add $2 trillion in additional spending that the military is not asking for, $7 trillion, just to give you a sense, that's more than our entire defense budget, and you think that by closing loopholes an
he said he calculates how much they pay in taxes. state income tax, state sales tax, gasoline tax. it added up to well over 50% of what they earn. your plan is to take the tax rate on successful small businesses from 35% to 40%. the national federation of independent businesses has said that will cost 700,000 jobs. i don't want to cost jobs. my priority is jobs. so what i do is i bring down the tax rates, lower the deductions and exemptions. the same idea behind simpson, by the way. lower the...
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Oct 6, 2012
10/12
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KQED
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because 47%, he said didn't pay income taxes. but many of those people pay payroll taxes. many of those are young people, old people, after all, many of the older people may not be paying income taxes now but they paid their social security contributions. and now they're getting back what they paid for. so to say that they were freeloaders was really denigrating a lifetime of work that they had contributed to. >> rose: where is the federal reserve in all of this? >> the federal reserve obviously wasn't doing what it should have done in the years before the crisis. >> it was paying too much attention to interest rates and not enough attention to employment. >> that was one of the problems. it was not paying enough attention to what the banks were doing. one of the members of the fed actually talked about it. there is a housing bubble going on there is predatory lending going on. you should stop this because if you don't you're going to have a problem. >> greenspan and the rest of the board ignored it. and so that lead to the housing bubble. and predatory lending. the fed ha
because 47%, he said didn't pay income taxes. but many of those people pay payroll taxes. many of those are young people, old people, after all, many of the older people may not be paying income taxes now but they paid their social security contributions. and now they're getting back what they paid for. so to say that they were freeloaders was really denigrating a lifetime of work that they had contributed to. >> rose: where is the federal reserve in all of this? >> the federal...
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your taxes are going to go up. this is something the romney campaign said over and again is not true but he doesn't go out and vociferously prove that is not true. >> exactly. it shouldn't even be the discussion at this point. the discussion should be that he is not going to permit president obama to raise taxes. he is not going to permit president obama to continue to swell the scale of government and, crush generations of unborn americans. that should be his focus. instead he is talking about tax expenditures and how to close loopholes and broadening marginal tax rates while reducing them. a lot of people are going, what the hell is he talking about? and in fact he needs to get focused now. melissa: here's my question because you're not the only one saying this. >> i know that. i know that. i hate it when i'm not original. melissa: maybe you said it first. >> no, i didn't. >> so is no one saying this to the romney campaign? are they just not hearing it? where is the diskoshth because it is obvious to all of us ou
your taxes are going to go up. this is something the romney campaign said over and again is not true but he doesn't go out and vociferously prove that is not true. >> exactly. it shouldn't even be the discussion at this point. the discussion should be that he is not going to permit president obama to raise taxes. he is not going to permit president obama to continue to swell the scale of government and, crush generations of unborn americans. that should be his focus. instead he is talking...
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Oct 4, 2012
10/12
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that is otherwise known as a poll tax, during the jim crow era. in texas, only 81 of 254 counties in texas have a dmv. if you cannot have idea and you live and accounting without i.d., how are you supposed to get to an office in texas to be able to get an i.d.? there are a lot of problems in practicalities obtain this i.d. you have states that are rushing to implement these laws and are implementing them in 2012. you have a lot of commissions, the carter-baker commission after the 2000 election that says that need to wake two election cycles to implement this idea to make sure everything happens. the last thing i would say is of a vote is not like getting on an airplane or buying sudafed. it is a right that many people have died for in this country, that people have blood for in this country. anytime we restrict their right to vote, particularly on the basis of race or class, we should be very, very, very careful about doing it and only do it if there is a pressing need to do so. my feeling is there is no reason to have this kind of government- is
that is otherwise known as a poll tax, during the jim crow era. in texas, only 81 of 254 counties in texas have a dmv. if you cannot have idea and you live and accounting without i.d., how are you supposed to get to an office in texas to be able to get an i.d.? there are a lot of problems in practicalities obtain this i.d. you have states that are rushing to implement these laws and are implementing them in 2012. you have a lot of commissions, the carter-baker commission after the 2000 election...
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you don't want your taxes to go to something that you don't agree with, is that your premise? >> no, i want them to go -- >> no, no, no, no, no, no. >> i want them to go to people who need help. >> if you missed it last night, you can watch it on time at the rumble2012.com. >>> israel shoot downs an unmanned drone and enters its airspace. now the country is considering taking other action. >>> and veterans returning home from war, facing another fight, this one over benefits. i'll bring you my exclusive report. ♪ leaving my homeland ♪ playing a lone hand ♪ my life begins today ♪ ♪ fly by night away from here ♪ ♪ change my life again ♪ ♪ fly by night, goodbye my dear ♪ ♪ my ship isn't coming ♪ and i just can't pretend oww! ♪ [ male announcer ] careful, you're no longer invisible in a midsize sedan. the volkswagen passat. the 2012 motor trend car of the year. that's the power of german engineering. [ slap! slap! slap! ] [ music, laughter stop ] [ male announcer ] when your favorite foods fight you, fight back fast with tums smoothies. so fast and smooth
you don't want your taxes to go to something that you don't agree with, is that your premise? >> no, i want them to go -- >> no, no, no, no, no, no. >> i want them to go to people who need help. >> if you missed it last night, you can watch it on time at the rumble2012.com. >>> israel shoot downs an unmanned drone and enters its airspace. now the country is considering taking other action. >>> and veterans returning home from war, facing another fight,...
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Oct 4, 2012
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i will not under any circumstances raise taxes on middle income families. >> reporter: the president challenged his rival saying that romney cannot keep his goal of cutting taxes and not add to the deficit without hurting the middle class. >> now, five weeks before the election, he's saying that his big bold idea is never mind. >> reporter: other big topics included medicare reform and the president's health care reform law. and while there wasn't a knockout punch from either side, some feel the president may have been too relaxed. >> he seems just a little bit detached at times. didn't want to be there. >> reporter: most agree romney led the debate. this first match-up could give him the boost he needed after lagging in many polls. >> knowing he's behind he needs to win and he fought that fight and stylistically he put the president on the defensive a number of time. >> reporter: the candidates are back on the trail today and the next big debate is next week when the vice presidential candidates go one-on-one. brandi hitt, abc news, denver. >> news around the nation this morning. >>
i will not under any circumstances raise taxes on middle income families. >> reporter: the president challenged his rival saying that romney cannot keep his goal of cutting taxes and not add to the deficit without hurting the middle class. >> now, five weeks before the election, he's saying that his big bold idea is never mind. >> reporter: other big topics included medicare reform and the president's health care reform law. and while there wasn't a knockout punch from either...
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Oct 4, 2012
10/12
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minimum tax. when you do that over ten years you put $5 trillion hole in your revenue. so that's where obama gets $5 trillion tax cut. but governor romney says he will make up that money through eliminating loopholes, tax deductions that sort of thing but he hasn't specifically said which one his would target. but that's how he can say, i don't have a $5 trillion tax cut. obama can come back and say you haven't given specifics how can we believe it really adds up. in fact every study nonpartisan that has looked at this has said that you know, unless you really tweaked the numbers, there's not justify money out there to fill that $5 trillion hole. >> so, glenn, the president said she's the guy plan to cut $4 trillion in the deficit. here's how he describes that plan. >> the way we do it is $2.50 for every cut, we ask for a dollar of additional revenue. governor romney earlier mentioned the bowles-simpson commission. well that's how the commission bipartisan commission, that talked about how we shou
minimum tax. when you do that over ten years you put $5 trillion hole in your revenue. so that's where obama gets $5 trillion tax cut. but governor romney says he will make up that money through eliminating loopholes, tax deductions that sort of thing but he hasn't specifically said which one his would target. but that's how he can say, i don't have a $5 trillion tax cut. obama can come back and say you haven't given specifics how can we believe it really adds up. in fact every study...
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Oct 5, 2012
10/12
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it entirely with their tax deductions so we either have to increase taxes on the middle class or he would have to have his tax plan add to the deficit and he hasn't been willing to say where he compromised. >> rose: that's where the rubber meets the ground for him. >> though those are all totally legitimate critiques of governor romney's plan, but i think the governor romney is being held to kind of a double standard on these things. i mean, candidate obama opposed an individual mandate on healthcare and got into office and saw the realty reality of where the votes were and decided he was for an individual mandate. >> candidate obama won't tell us what he wants to do on social security and what his ideas are for a grand bargain with the republicans, so i think governor romney on this point, yes, if you take strictly what he said and what he hasn't said it is not cle how itdds up but don't think there any mystery that if he not elected his tax plan would be, would resellable this but there is a way to swear some of the inconsistencies and fill in some of the holes and maybe there wouldn't
it entirely with their tax deductions so we either have to increase taxes on the middle class or he would have to have his tax plan add to the deficit and he hasn't been willing to say where he compromised. >> rose: that's where the rubber meets the ground for him. >> though those are all totally legitimate critiques of governor romney's plan, but i think the governor romney is being held to kind of a double standard on these things. i mean, candidate obama opposed an individual...
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his tax cut wouldn't be anywhere near that size. >> so you're disputing the size of the tax cut? or are you disputing also how he's going to pay for it? >> we're disputing the size. >> erin, he has campaigned on lowering tax cuts by 20% for everybody, including those in the top 1%. that was one of the main selling points in the republican primary. >> so you're saying if you lower them by 20% you get a $5 trillion tab, right? >> it's a $5 trillion tab. >> but when he closes deductions he won't be anywhere near $5 trillion. that's our analysis. >> well with, okay, stipulated, it won't be near $5 trillion, but it's also not going to be the sum of $5 trillion in the loopholes that he's going to close. it is going to cost someone and it's going to cost the middle class. independent economists have taken a look at this. there aren't enough deductions for those at the top to account for the number of tax cuts that they get because of mitt romney's policies. you have to raise taxes on the middle class, as bill clinton says, it's simple math. >> they'll say, though, that you can do that.
his tax cut wouldn't be anywhere near that size. >> so you're disputing the size of the tax cut? or are you disputing also how he's going to pay for it? >> we're disputing the size. >> erin, he has campaigned on lowering tax cuts by 20% for everybody, including those in the top 1%. that was one of the main selling points in the republican primary. >> so you're saying if you lower them by 20% you get a $5 trillion tab, right? >> it's a $5 trillion tab. >> but...
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Oct 4, 2012
10/12
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mostly corporate tax giving to democrats that republicans and they're working with incumbents. so it makes it, it's almost like the game is very tilted against anybody who wants to try to crack into the process. that's what's difficult. and super pacs are not liked by incumbents because they can hold the office or to account. the incumbent doesn't like the. the traditional pacs are always going to go and give money to the incumbents spent by the hope would be, it's still perverse. i would still rather have the opponent pointing out those things in a super pac. i would rather choose the campaign that i set out in some other entities. there some solutions. good or bad, that's one solution. the disclosure. certainly is one thing. there are multiple solutions but to me it is frustrating that the candidates voice has been muted. everything has been an impact of free media frankly on it. but on the senate race and the house races, just these two men, two ladies talk to one another and to find out between each other. and i think we probably would get a little more patient out of them
mostly corporate tax giving to democrats that republicans and they're working with incumbents. so it makes it, it's almost like the game is very tilted against anybody who wants to try to crack into the process. that's what's difficult. and super pacs are not liked by incumbents because they can hold the office or to account. the incumbent doesn't like the. the traditional pacs are always going to go and give money to the incumbents spent by the hope would be, it's still perverse. i would still...
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Oct 4, 2012
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this is a tax in and of itself. >> reporter: on health care -- >> i don't know how the president could have come into office, facing 23 million people out of work, rising unemployment, an economic crisis at the kitchen table, and spent his energy and passion for two years fighting for obamacare instead of fighting for jobs for the american people. >> reporter: in the role of government -- >> the federal government has the capacity to help open up opportunitand create ladders of opportunity and to create ameworks where the american people can succeed. >> reporter: the 90 minute debate moderated by jim layer was the first opportunity for the candidates to go head-to- head. at times it was heated. >> solyndra and tester and inner one. i had a friend who said you don't just pick the winners and losers, he picks losers. >> for 18 months he's been running on the tax plan and now five weeks before the election he's saying the big bold idea is never mind. >> reporter: there was this memorable moment. >> 20 years ago i became the luckiest man on earth because michelle obama agreed the marry me.
this is a tax in and of itself. >> reporter: on health care -- >> i don't know how the president could have come into office, facing 23 million people out of work, rising unemployment, an economic crisis at the kitchen table, and spent his energy and passion for two years fighting for obamacare instead of fighting for jobs for the american people. >> reporter: in the role of government -- >> the federal government has the capacity to help open up opportunitand create...
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Oct 2, 2012
10/12
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if the taxes increase, then is a tax increase. if the canned says tax cut or mandatory spending or discretionary spending, we would use it in that way. achieving these baseline pounds of revenue and spending, it is not necessarily in the exact timing or form that the current law baseline looks out right now, but sticking with the essential elements. those of you who know me know that i am quite fond of the current law baseline. in the past i have said what we need to do is to follow a strict pay-as-you-go. i am tired of exempting this and ignoring that. let's stick to strict pay-as- you-go. pay-go noit to exceptions. i will just modify that today and say instead of pay-ago, is re-go. recycle as you go. set targets that congress says, by this date, we will have achieved this goal. the budget committees and the budget process to enforce this. there is something called budget conciliates -- reconciliation where they've direct the budget and other entities with jurisdiction over the program to come up with reforms, for spending target
if the taxes increase, then is a tax increase. if the canned says tax cut or mandatory spending or discretionary spending, we would use it in that way. achieving these baseline pounds of revenue and spending, it is not necessarily in the exact timing or form that the current law baseline looks out right now, but sticking with the essential elements. those of you who know me know that i am quite fond of the current law baseline. in the past i have said what we need to do is to follow a strict...
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the third voice, hey, let's eliminate income tax, corporate tax. let's abolish the irs. let's replace all of that with a one federal consumption tax. i am embracing the fair tax, which think is really the answer to american jobs, in a 0 corporate tax rate environment. i say the private sector creates tens of millions of jobs. melissa: we know what you would bring to the table. can you handicap for us what you think the other two guys are going to do tomorrow night? who has got the strength? who has got the weakness? how will it come out? >> let me offer a prediction. either one of them get elected,e are going to find ourselves with a heightened police state. we're going to find ourselves in a state of continued military intervention that has resulted in hundreds of millions of enemies to this country that but for those military interventions would otherwise not exist. and that we find ourselves in a continued state of spending, and debt that are absolutely not sustainable. my prediction. melissa: we know that from polls that you trail both candidates by a pretty wide mar
the third voice, hey, let's eliminate income tax, corporate tax. let's abolish the irs. let's replace all of that with a one federal consumption tax. i am embracing the fair tax, which think is really the answer to american jobs, in a 0 corporate tax rate environment. i say the private sector creates tens of millions of jobs. melissa: we know what you would bring to the table. can you handicap for us what you think the other two guys are going to do tomorrow night? who has got the strength? who...
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Oct 9, 2012
10/12
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he is an interesting position on tax and oh by the way he is lying his ass off. we have factored that in now. >> stephanie: yesterday's speech on foreign policy won't that have some effect over time as well? >> well -- i think -- i think that's -- if you want to look for a silver lining in both of the polls, it is that they are a snapshot taken right in the heart of what should have been a bounce. so we'll see what happens in the middle of next week. i was resistant to the notion, but i'm over it to now that that debate performance was a serious, serious blunder. >> stephanie: you write this week it has been pointed out that romney has become quite a remarkable liar. he lies by commission of course. and lies by admission namely in his resolution determination not to be specific about what deductions he is planning to end. >> they are particularly good at office [ inaudible ] mathematics. i'm particularly good at english. [ laughter ] >> stephanie: exactly. >> and that's hard by the way. it's very hard to throw poo efficiently. but he threw it -- we get to talk li
he is an interesting position on tax and oh by the way he is lying his ass off. we have factored that in now. >> stephanie: yesterday's speech on foreign policy won't that have some effect over time as well? >> well -- i think -- i think that's -- if you want to look for a silver lining in both of the polls, it is that they are a snapshot taken right in the heart of what should have been a bounce. so we'll see what happens in the middle of next week. i was resistant to the notion,...
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Oct 4, 2012
10/12
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and the atm and the tax taxes, reduce dividend and capital gains taxes. that's 6 trillion. what he's saying tonight is he's going to pay for it by closing loopholes or preferences but won't tell you which ones. maybe the chain can capitalize on that as john said earlier, but i think it does beg the question, why couldn't barack obama capitalize on that. >> rose: kathy, you wanted to say something. >> charlie i was wondering halfway through the debate whether the campaign had made a strategic decision, the likability advantage that the president has is so valuable to them that they didn't want to jeopardize that by him attacking mitt romney and coming across as unlikeable or less likeable, because you know it was astonishing that he didn't go after mitt romney. i was just talking to david -- in the room just a couple minutes ago, he made the case far more convincingly, far more aggressively and concisely for what president obama was trying to lay out the next four years than obama himself did up on the stage. i mean there was just time and again mitt romney managed to seize
and the atm and the tax taxes, reduce dividend and capital gains taxes. that's 6 trillion. what he's saying tonight is he's going to pay for it by closing loopholes or preferences but won't tell you which ones. maybe the chain can capitalize on that as john said earlier, but i think it does beg the question, why couldn't barack obama capitalize on that. >> rose: kathy, you wanted to say something. >> charlie i was wondering halfway through the debate whether the campaign had made a...